Bitcoin Forum

https://www.coindesk.com/fake-volume-on-crypto-exchanges-isnt-the-half-of-it

this shows the real image of BTC.

It more of shows and confirms the real colors of those exchanges that fake their trading volume just to show up higher on the Coinmarketcap trading pairs and to show up higher on exchange rankings by trading volume.

Ohhh, springs, bears are coming out.....

I don't see anything shocking there, I always thought those volumes are fakes and I always said CMC, as well as the market cap indicator, is pure garbage.I just hope people will stop trading on those shitty exchanges and stop looking at CMC and believing everything there.

Add that contrary to those reports I think Binance is cooking the books big time also.

And due to this, regulators would then come up with a new regulation that will apprehend exchanges who fake their volumes in order to lure customers into their platform. This could fall right under market manipulation and/or deception and could lead to jail time for exchange operators. I think it's about time that regulators really step in and make these exchanges report actual true volume on their platforms as a lot of people are becoming victims of fake volumes resulting into funds not being liquidated immediately and some being victims of "hacked" exchanges.

You spoke part of what is inside of my mind. And really, it is possible.
Exchanges are not like anonymous, they have presence and so they can and should be regulated to avoid falsification of data so that the real performance of a project is open to anybody who wants to invest to see what they are putting money in. I think it is very fair that way.

this does not show the real image of bitcoin, it shows the dishonesty of a certain group of companies that want to be at the Top at the expense of dirty and condemnable methods. Bitcoin is not to blame for anything. But this was already expected because this market is not regulated and constantly supervised. which makes me more shocked is know that we have to do KYC on sites where the owners are anonymous

Chinese exchanges were faking volume since they entered the market and there was a shitstorm where their government intervened and shut most of them down in 2014. Some moved to Hong Kong. Do you believe they simply abandoned their old tactic and played fair from that moment? There are exchanges that play fair and those that don't.

Exactly, even prior to the eventual bull-run, Chinese exchanges have been faking their volume, caught by their government, suspended and then an eventual shutdown.

There are one reports that I'm aware of saying which exchanges have been practicing wash trading. Here, https://www.blockchaintransparency.org/. So this is well-known already, and as much as we have those exchanges doing it, perhaps the best thing to do is stay away with them. And it doesn't mean that BTC itself is fraudulent though. It's just this is a free market, and everyone takes advantage of every situation they can get their hands and make money, sad but true.

Sooner or later Coinmarketcap will be replace by a more transparent and unbiased and 100% more dependable Coin Listing Platform.

Until they de-list or exclude all those exchange that practice wash trading to inflate their volume we cannot see the real picture of the overall health of the cryptocurrency market.

2 days ago Coinmarketcap concedes about their fake volume was valid and now Coindesk made an article about the 95% fake volume of exchanges, since I started doing some Bitcoin and cryptocurrency stuff in general I always use CMC on a daily basis in looking for the right price of different cryptos but knowing nowadays that its information isn't accurate at all was just so frustrating, it seems like it's all about business after all and we can't do nothing about those numbers whether it's true or not for as long as they're getting traffics and make profits from their advertisement.

Why BTC?

I think the by far bigger part is related to the shitcoin business. Exchanges can make very good bucks from listing new shitcoins and it's now the time that most new shitcoins from 2017/2018 hype are getting listed. So no surprise that exchanges want to be attractive for the shitcoin-CEOs to be listed on high-volume exchanges. They will just sell the news that they are listed on a TOP-10 exchange.  :P

And the flood of new exchanges is showing one thing: it's profitable to launch new exchanges, fake the trading-volume and list the shitcoins - the easiest way to get attention from ICOs and investors is to fake their trading volume to be mentioned on coinmarketcap.
But I'm sure that won't last long. There will be a point of time when all hype-ICOs have no money anymore and new ICOs have problems already to raise funds. Long-term the revenues for new listings on exchanges will decrease. Most exchanges will collapse like ICOs nowadays if there is no new hype soon.

No, if anything it would be "the real image" of some crypto exchanges...
https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-10.54.21-AM.png (https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-10.54.21-AM.png) https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-10.55.54-AM-768x394.png (https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-10.55.54-AM-768x394.png) https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-10.57.37-AM.png (https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-10.57.37-AM.png) https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-11.04.24-AM.png (https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-11.04.24-AM.png) https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-11.05.32-AM.png (https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-11.05.32-AM.png) https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-11.06.37-AM.png (https://static.coindesk.com/wp-content/uploads/2019/03/Screen-Shot-2019-03-28-at-11.06.37-AM.png)
Note that the article is actually commenting on this report (https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf). Take a look by yourselves:

Bitwise Asset Management
Presentation to the U.S. Securities and Exchange Commission
March 19, 2019 (https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf)

Why did they do that? Is it to lure the popes to return to investing in the Crypto market. That is in my view. Maybe yes maybe not.

it also shows that every now and then people find some nonsense to exaggerate and link it to bitcoin to try and complain about. it seems like yesterday where they were complaining about bitcoin's energy usage/wastage every day you opened bitcointalk or basically looked on any other site specially new sites. now that that news has gotten old and overused they have found a new one!

Two important things comes from this article, " All exchanges in the report are registered Money Services Business with FinCEN, except for Binance, which makes up by far the most – 40.47% of the total “actual” crypto volume traded. " <So they should be under close scrutiny.. right?>

And... " According to the Blockchain Transparency Institute, the exchanges with the least amount of faked volume are Binance and Bitfinex. Yet these exchanges lack normal banking relationships and are supported by an unregulated stablecoin.>

The emmidiate question that comes to mind is this, "Is regulation really that reliable then? or is this a better platform to manipulate markets"  ???

that's what ironic. at one point regulation should exist to protect manipulation, but at the current market condition, the exchange with the most actual volume is not regulated. in my opinion, maybe that happens because lots of traders perceive Binance as the market leader, so they tend to trade over there instead of other exchanges.

And ho would regulate the exchanges? Other exchange fakes those volumes to deceive traders and traders should perceive the exchanges that release fake volumes.

The government will regulate the exchanges, who else? So you don't have to follow those exchanges and only stick with the exchanges that have the actual volume.

I am sure that in the end, the government will get in the exchanges and they will make a regulation for the exchanges.

actually this shows the narrow way of thinking of certain people like you who think bitcoin is only some token that exists on exchanges and has no other purpose than being traded on exchanges and nothing else! so obviously you should think if exchanges do something wrong it reflects on bitcoin!!!

This is very helpful in knowing information and knowing the original description of BTC so far looking for this picture has not yet been found

The coinmarketcap nemesis
https://openmarketcap.com/

clear as
https://openmarketcap.com/exchanges/difference

 

Even the real volume can be faked by exchange administration in a pretty realistic way. What stops them from buying and selling BTC? They will even get back their fee. So if they, for example, sell 1mln $ worth of BTC and afterward buy back the same amount of Bitcoins then they would get 2 mln$ of volume. And how would we figure out if the volume is real in that case?

Their API will show that 1 Million USD worth of buy, So that's not the way their do their wash trading to increase volume. they can easily make a bot that will trade in their exchange to buy/sell BTC at varying amount so it wont be pick up by CMC as fake volume.

They will eventually exposed, and this is not good for Bitcoin and cryptocurrency supporters we have been feed with lies all these years, so what's going to happen now, that this means that we are a long way from a real bull run because of this fake volume and trading statistics.

I'm glad all the exchanges I am using are not faking it's volume.
Well, binance is already given a decent exchange and they don't need to cheap as they are the no. 1 IMO.
Those exchanges who are faking their volume, can also manipulate the price, and therefore they should not be trusted by traders.

Oh boy, this is one of the shitty marketing strategies and now those exchanges should get busted.
Some people never realize that they will get caught someday and their business will get a huge negative impact.

Traders should stick with those top 10 exchanges only.

Most of the so called "clean" exchangers are licensed. :)

Yes, 95% from BTC trading is fake. That means the market is small and it's not like the Bitcoin media present it...

Sad to say that there is really a fake volume on bitcoin but of course its not just bitcoin but also most of the coins who are on the fake volume right now. I don't why most of the exchanges are doing this but its clear that they are trying to encourage more traders into their platform. The real value will still prevail in time, and even if a lot of manipulators trying to deceive investors bitcoin will still be a great coin to buy for.

It's sad to talk about this. But if you look at the strategy of the exchanges, it is a way to attract people to participate in this market. I think the virtual volume will be limited when the level of reputation of the floor increases and the participation of many investors.

Er... you need tokens to nominate a "trustworthy" exchange and more tokens to challenge them?

https://i.ibb.co/0QzS6HS/image.png (https://ibb.co/fQT5yj5)

I don't think this is going to end good...

I just read this news a few days ago, I was also surprised because the daily trading volume on CMC was billions of dollars. But the real number is about 250 millions dollars.

                                                                                https://pbs.twimg.com/media/D2RMDjaW0AQJv4w.jpg:large

CMC has also acknowledged that their statistics include a lot of fake transactions and they promise to fix them, in fact fake transactions are no longer new to this market. Most of the reputable exchanges have real trading volumes like Coinbase, Bitfinex .. all operate in the US. These exchange platforms are strictly controlled by the US government, so the trading volume will match with the report they give.

                                                                               https://pbs.twimg.com/media/D2RUlg3WwAMjrs7.jpg:large


Most exchange platforms will counterfeit trading volume, to attract users and increase listing fees for projects that want to list on their platform.Since then, this market still has a lot of things to do, must be purified before it is stable and long-term recovery. And based on the above evidence, it can be seen that 2017 is all about market manipulation, I never thought Bitcoin was really priced at $ 20,000 at that time.

Reference source: https://twitter.com/Bitwiseinvest

THis is not about the image of bitcoin instead the image of those greed people behind this Coinmarketcap and I believe that this has being politicizing from the rich people behind this great exchange in the past but now CMC is losing the battle and their  popularity is now at stake.in rhe matter of year or two for sure CMC will fall and another great exchange will take place

Yeah but I wouldn't trust any exchange or business that decided to give into a Bitlisence. You do know that those exchanges are basically banks, right? All of your KYC is handed over right away, even if you don't live in New York.

Honestly, fuck that. I'm not American and I don't need the American government looking through my KYC documents for no reason at all. This narrows the exchanges down significantly, but at least there are still decent options.

I saw one of this thread saying that CMC are just posting fake volume and that exchanges are paying CMC just to fake the statistics that shows.

Do you know any other list that lists coins and active markets like CMC? But legit? 

All exchanges to improve their rating launch bots and thus wind up trading volumes. This is done to be noticed and real people began to trade on them.
Many bloggers talk about a significant increase in demand for bitcoin and indicate an increase in trading volume but in fact trading volumes are 10 times less because the volume is fake.
there are only a few exchanges who more or less shows their real trading volumes Is Binance, Kraken, bittrex, coinbase.

the reality is that there is a very low demand of BTC. it's a little niche market and few "whales" who own a lot of BTC...are interested to get stupids to "invest"(to buy BTC from them) :)

This is not news. There is a lot of wash trading going on in different exchanges to hype up the daily trade volume if you look very closely at those exchanges.
It's so sad that manipulation is getting to the peak in crypto space yet the idea behind crypto was to fight the corrupt systems and manipulative centralized bodies.

The reality is it depend on those "stupid" to buy bitcoin from the whales it self and in hope to make a good investment in the end which i think now is the good time for doing it. Who doesnt like easy money can being made by just holding bitcoin. We all are waiting for bitcoin to spike again right?

They all think and know that the volume will give you higher ranking on coinmarketcap.
I noticed it before in may tokens listed on certain exchange. the buy and sell is not stopping though the walls are not moving.
Also, ICO team is part of this as they can also benefit on this as their daily volume will increase.

This has always been common sense to me.  Until there are very serious regulations this kind of crap will continue.  This is one of the ways people get suckered into buying shitcoins, they see millions of  dollars worth of daily trading volume just to find out they purchased a coin that is very hard to liquidate. 

This is saddening to say the least if these alleged manipulations are true. But what do you mean by the words I bolded and underlined in your sentence by the double use, almost conflicting in meaning. Could you throw more light on that?

Come to think of it, this will break the hearts of many to know that CMC is not as clean as we think of it by relying on its services.

About the fictitious volume I think everyone knew without reports.Now there is an index for these exchanges together.  (Bitwise Spot Volume Index) tradingview

What he is referring to is how exchanges are artificially inflating their volumes to gain a higher rank on CMC, which is by far the most popular market cap/exchange data site. Higher rank on CMC means you're more likely to attract new users, and with your (fake) high volumes you can demand a premium for coin listings on your exchange.

The same applies to coins listed on the first page (which consists of 100 coins) of CMC, because being listed on the first page means more exposure for you as coin. Search engines also work like that. How often do people click on the second and third page? Most people focus just on what they see on the first page.

People made CMC super popular to beging with, and now they complain about their way of displaying data? They have always been like this. Don't use something you don't like, it's that simple.

Many exchange show fake volume to attrack new trader to use their platform, they use this for promotional material. When we see ranking of exchange according to trading volume on the coinmarketcap that thing show new exchange has higher trading volume than old exchange, so we should be looking for review of each exchange before use it.

Well, they do what they need to do, which is to attract traders.
There's harm for us traders not because it will affect our success rate but because we might loss our money in the future.
Being profitable even though they are faking the volume, seems like not an issue for us then.

For now, I still can’t fully understand how their actions will affect traders, trying to put one or two together but can’t seem to get one, I know what they are doing is quite wrong but just like you said, it is just s marketing strategy and I am sure them too are not willing to make it linger more because it will also affect their reputation.

So, I bet they will gradually correct the figure as they gradually get more and more volumes, we will not even notice it till the figure tallies with the real time statistic, exchanges manipulation is not even my issue, it is coinmarketcap figures that are mostly not real. The act was for what reason?

this might be a legalized way to increase trading volume.
can this be reported and is a crime?

I don't really believe in exchanges, although some people continue to convince me that exchange is the best place to save assets.

There are some cases before where one of the Executive are being caught for the trading volume.

https://cointelegraph.com/news/south-korea-regulators-indict-three-upbit-employees-for-alleged-trade-volume-manipulation

This is one of the example of what I'm talking about, so I think most of the exchanges have their own hidden agenda to manipulate the trading volume. You have to believe on that exchanges you are using but never to put too much money on that because of uncontrolled wallet.

Exchanges is for trading, you can save your assets but it's not advisable, hacking is still happening in exchange as hackers know there's plenty of money in exchanges. They are faking to attract traders, and that is unethical, or possibly a crime as they are not telling their real volume.
We should stay away from sites that are faking volume, there's good exchanges out there, we should stay with them.

Fake volume = fake price

Seriously you are right, we should never put so much trust in them to leave our funds in their wallet,  just like today, I was on one of the popular exchanges I have been using for a while now which I may not want to mention their name because they have not done this to me in the past.

But, I really don’t know what went wrong today as bitcoin was shooting high, as at the time BTC recorded $5000 and I rushed to my exchange to do some sweet trading, I got there and I found out that their own figure was still around 5000 and it took them hours before they could update it to the recent value, it was at this point I got the conviction that they are actually the ones controlling this figures.

This more likely applicable to ALTCOINS when the project team starts pumping their volume so they can appear in CMC top gainers for the day.

This creates an illusion that the project is well traded and liquid. But when you check buy support its nothing but a thin line of support.

Mainly fake volume in some exchange which is running bot all the time. Such type of one exchange is coinbene. The exchange is totally running their bot for increasing trading volume. When you want to sell a high amount of crypto you can not find enough buy order. Another one is exrates. this exchange also running bot all the time. You can not find buy order for selling token. But trade history shows huge amount of selling and buying.

I believe this and at the same time bitcoin price predict growth.
Bitcoin Price Prediction 2019 - BTC Price to Touch $23500 in 2019
https://coinswitch.co/news/bitcoin-price-prediction-2019-btc-price-to-touch-23500-in-2019 (https://coinswitch.co/news/bitcoin-price-prediction-2019-btc-price-to-touch-23500-in-2019)

the market is VERY SMALL and it's not like the shit crypto media(propaganda) is presenting it. :)

Whoever that said that to you doesn't know what he's talking about or he's lying to you, the purpose of an exchange is in its name, it cannot be more obvious than that, an exchange is a place where you convert your coins to other coins, saving your coins in the wallet of an exchange is a huge mistake because hackers are always trying to hack them and as we know they have been successful a number of times in the past and there is no reason to believe that this is going to stop.

yes this is lake cheating everyone with the usage of inexperienced  people and we need to be very very careful while choosing an investment and exchanges because a simple letter will change your mind set to a different dimension and there will be a huge options for fraud.

Most cases this would really be applied on Altcoins not on high volume coins.Most likely low volume ones would really be easily on being manipulated

which as said this do give out some hype for newbie investors to see the highest gainers of that particular time and not only that these fake volume do exist on
big exchangers as well to make up some noise.

And that is not new anymore.

How do they get away from it though. I want to see a discussion where our center will be questioning thing exchanges on why the hell there is no fine for doing bad things like this just for luring investors in their midst.
Perhaps they are connected with something that lets them do the evil job.

Well, they are all centralized so it wont be shocking anymore.  ;D

I don't have a confidence yet to trust storing funds on trading sites, unless there's a great market that will become great again. The experience of putting my asset to danger 5 months ago cannot be explained, since likely I was having crucial days knowing that after withdrawing my funds from hacking incident occured few days after. In that case, trading volume was almost the concerns of every holders but first and foremost we need to consider those serious factors behind it.

It's been flooded around and they should be trying to fool people whoa are new into these. I've heard a lot of complaints about of being scam, losing their accounts but for us who decide to step in will be having a huge accountability of our funds and that is why we should be careful in putting up our money. We should be sure that, it is a legit one and so we can't blame ourself for any consequences happen after.

Regardless of how centralized exchanges are able to manipulate the prices we have the solution for those problems and the solution is decentralized exchanges, once a decentralized exchange appears that can compete with its centralized counterparts we will see the slow disappearance of that problem and it will allow us to see what is the real interest in the market and how much money is really moving each day and it will allow us to tell if the adoption is really growing or not.

It is not new to us seeing exchanges either decentralized or not having fakes volumes. They are free to do it since there is no law that they are afraid of, only we could have to condemn their doings but not to the extend that they'll be imprisoned. As an investors or traders, we just keep on watch on this and to be sure to know the real situation of the market.

Yobit, is very notorious in faking their volume and because of this they attract many investors in their platform, many exchanges are following this practice, it's actually an old practice and we don't know who among this exchanges are transparent in their volume.

DEX can be the long term solution to manipulation but for now we have to be aware of fake volumes manually by checking the trading history too deeper.People find issues while using DEXs that is why they are not going for it even when they want too due to the price manipulation from CEXs.

IT is so sed (

DEXs are not a solution to end fake volumes. It will grant any entity even more freedom to wash trade and make their DEX look liquid, while in reality it's just as empty as an exchange as Coinbene.

In terms of figuring out what exchange cheats and which one doesn't, just look at when they launched and their current volumes. If an exchange launched like 3 months ago and already have +$100 million in volume, then it's very likely fake.

Most of the exchanges we see generate hundreds of millions in volume have also very poor web rankings, which is another sign that they are cheating. The "solution" is to avoid using these exchanges.

Old traders already know that there's a lot of manipulation going on in every exchange, some of them are inflating some coins, to make it attractive to investors and traders, if you want to know how they do it, better check Yobit, they always do it almost daily, even shit coins get a pump.

sometimes our carelessness also been easily attracted to different kinds of things without any type of basic knowledge all the times we don't trust the same thing so we need to watch carefully each and every step that we have to move that will the only way to restrict this type of things in our investment.

We already used to see exchanges like this and its really shit if you buy coins easily without realizing a fake volume. Traders are just riding the trend nowadays and they know well how the exchanges works. Newbies are usually the victim, FOMO are still in this market. I believe almost a 100% of price manipulation on Yobit, don't trust that exchange.

But were on bear markets even before this,but ofcourse Fud is around the area

Indeed CMC is a damn garbage indicator and only few are reliable
I already stopped checking prices in CMC and i have deleted in my bookmarks
Binance on the other hand for me is much beter but ofcourse nothing specific

This has a negative effect on traders because they are just fooled despite aiming for a good profit. That's also the reason why I stopped checking on CMC because most of the information I see isn't reliable. Sometimes, it's their strategy to attract more traders and investors.

it is not our mistake there is no problem with this the fraud people make this changes country sale some things for their income but it will not standard for long time and we need to be more careful while choosing this type of things especially Bitcoin will be easily attracted by everyone

I see lot of exchange like this most of them are new exchange that use volume to make their exchange to the eyes of wants to trade. But if you enter to their exchange you will be disappointed so much better to use top 10 exchange than this exchanges that fake volumes.

https://coinmarketcap.com/ provide the right information, only exchanges are not providing the right information.
Based on the link from OP, only 10 exchanges give real trading volume and the rest are faking, but it did not affect a lot on the entire trading volume as those who are faking their volume are just small exchanges, we know what exchange to trust, we should only trade with them.

The data that we see are not all accurate, hence it's necessary that we analyze it also.

They are the first exchange in my experience to see a massive volume inflation of exchange volume and the bad thing is they allow it to propagate to different coin project.

I just don't know today if they still allow such illicit practice on their exchange.

Analyzing exchange is very in need, there's  a lots of possibilities why exchange is faking their volumes, but the very reasons is to attract traders and investors attentions, now as an investors, we needed to make sure doing our hoe work first before start dealing with exchange, especially those new
and small exchange where manipulations can be done easily.

It is surprising that only 10 top exchanges have real volume. I am using binance for trade dan that is the best exchange platform ever been. I have used digifinex but their volume is fake and so many bots.

Lol, Digifinex? one of the worst exchanges I have experience so I advise you to stay away. Not only bots but volumes are really fake, I have witnessed it multiply times already.

As far as Binance goes, that's why they are the number one exchanges right now, they're protecting their reputations by not allowing fake volumes on their exchanges.

I think it is because of fraud people doing and cheating the new people very easily but you need to be careful when we are enter into this field very newly and choosing the investment and trading but if we clear about what we are doing it will be really easy to find out which is the fake.

For me personally, it is not a secret for a long time that the volumes on exchanges are in general drawn. This can be seen primarily on real live orders in the order book.

Yes it's no secret but at least we have reports now to validate what we have known in the past. Although we have seen this happened in 2017 when PBoC suddenly put a stop on some Chinese exchange for pulling such act before.

But as the market matures, and reports coming in, we as investors are now aware that it was indeed happening so we need to watch what trading exchanges are we going to used so that we all know that volumes are not fake and you are not in the position to be one of the victims of this fraudulent act.

To choose a more honest exchange you need to look at the real volume and the presence of a large number of users. I think that Binance is the most active in this regard, although he also draws fake volumes. In fact, the cryptocurrency is very weak and very few people are interested, especially after a half-year fall.

Yes, Binance is one of the better big players and my recommendation to everyone.

No it isn't. There's a long history of this starting with Gox and it hasn't let up. I don't understand what the 100% fake places hope to achieve but they don't appear to be interested in giving up and buggering off.

I still don't get the relentless Binance fawning. People are far too confident in a platform that's only a couple of years old, ignores the laws of multiple jurisdictions, is not regulated and keeps the location of its servers a secret.

If someone wants it to be more regulated, Kraken is the way to go. But regulation also means you cant do less under the hood ;)

Yes, I also liked Bittrex and Poloniex. But they unfortunately lost their leading position in terms of volumes. Binance like a magnet, dragged almost all Bitcoins.

binance was supported from korean trader, as we know korean was most impressive community at this moment.they massively investing in cryptocurrency.and most of investors trust with korean projects.

All I know in faking volume on each coin is the coinmarketcap.com. This is why I avoid using CMC by the time I knew it is faking volumes. But, whenever I want to sell an alt I think it is a good list to see where the coin is listed.

Kraken is good, but it has a hell lot of formalities. I prefer kucoin as it is a new exchange than kraken and it supports various operation which kraken dont offer. There is also st tier where you actually do not need any kyc and can withdraw a moderate amount of money.

Exchanges are always fake volumes to increase traders' excitement. If they do not do so, their exchange will be very boring and traders will be afraid that they will not be able to trade there and they will be delayed in trading. Anyway, that is the tradition of exchanges and everything still works quite well. ;D

Yes, I heard, Chinese investors are also enough. Maybe because the main volume is focused on Binance. OKEx in the lead also. https://coinmarketcap.com/rankings/exchanges/

I've seen this article for a long time and every year there are articles about the fake volume of exchanges.
This is a bad action and it really does not cause a positive impact for traders. but we must also know that our crypto market still has a small market capitalization and we cannot demand high liquidity.

I think a good trader dont need to take a look at volume graph in these sites!
He will take a look at last transactions before choose the exchange to operate. But, everyone who trade for some time know exactly all the good exchanges!
Traders just search for a new one when have a new token/altcoin

I really don't believe that 95% of volume is fake, sounds like another FUD price from the bankers.  Good exchanges don't have to fake volume because they are able to bring in new customers organically.  I'm sure there are some shady ones but the same thing goes for real world business.

It is surprising that only 10 exchange platforms have real volume. I have used Binance and Bittrex for me both are the best exchange platforms.

I totally believe it.

Crypto's motto is basically fake it till you make it and that's what they're all trying to do. I've looked at some of the 'biggest' exchanges out there, not that I'd ever heard of most of them before, and the fakery is right there in their entirely fictional order books.

It takes years to build the volumes that the legit ish exchanges have managed. Some piece of shit from nowhere does not instantly out gun them by 10 or 20x within a couple of months of existing. Real users are conservative.

That's what you call cycle, but I couldn't call crypto weak just because the price is going down or if we are in a bear market. As I have said, it works on cycle, if you don't like to trade in bearish trend so obviously you step out. But there are investors or speculators who are still here making money even if we are in a bearish cycle.

But there are other options besides Binance, although it was gain quite a reputable in the crypto sphere. But if people are not comfortable then they can go and trade on other exchanges as well.

Binance is still the best for now, although I don’t know about their beginning, they must have practiced this hype method too at the beginning before they grew big and corrected it.

I am not surprised that we have only 10 exchanges with true volume, because we investors and users only support those exchanges with high volume, and if we keep tending towards high volume all the times, we will not be able to give chance for the upcoming exchanges to rise. I guess this is why most of these exchanges with fake volume do what they do, if not, what do they stand to gain doing it?

Now a days exchanges offering their own coin for various purpose of use.This is one of the reason to drag people to your exchange. Bittrex and poloniex not offering any loyalty to their users. Although, they're still on the top 10 in my list of choice.

These two exchanges were legend in crypto, before BNB these two coins were the leading in the market in terms of volume.
Volume that time was below billions but because of the bull run last 2017 it has significantly rise, thise proves that it does not matter whoever comes first, the exchange that keeps developing will be more successful.

It is normal to see some fake volume because it is clear that they are the whales who are trying to control the market to make profits for themselves. These fake volume to pump and dump is very common strategy of the whales and if you know how to ride these pump and dumps you can also make money out of it, just like what the whales are doing.

Yes, in this regard, Binance has long overtaken the American exchanges. But I feel Polonix will surprise many more, soon the launch of Cosmos. I think it will be a good rally. By volume, of course, a pitiful sight.

I remember the time when Polonix was one of the coolest exchanges. Now, of course, her authority has become not very good. But it is quite possible that she will return to the world of a large cryptocurrency.

This is why for measuring the market sentiment, I check the daily Bitcoin transaction volume and the average fee rather than checking the volume from the exchanges. The American and European exchanges may be honest with their volumes. But the Chinese exchanges exaggerate their volumes a lot, though schemes such as zero-fee trade and permission for users to employ bots. Another option is to check the volume from those exchanges, where the data looks more or less accurate.

Everything your checking can be found in the Cryptocurrency index website, https://openmarketcap.com/exchanges/difference A great alternative to coinmarketcap if you want to check the real value and real picture of the current market condition.

The government should regulate the exchanges that shows fake volume to deceive the traders and generate income from the false means.There were many exchanges which were shut down in China due to same reason.There are some exchanges which works in proper manner and some don't.

The government should stay far away from cryptoworld my friend.
They just look for easy money, and never give back a good replacement to the population.
Just my opinion

Going through some posts on this thread really give me insight.  Fake volumes really exist in so many exchange that I have been trading but I don't know till now and this has really create fear in me.  Most times coins price at coinmarketcap is quite different from what we do get in exchange like poloniex and coinbase and that is because many exchange are manipulating the price too.

Not only just Chinese exchange but also many other exchanges include American and maybe almost all exchanges around the world can fake volume, in this crypto market, trust is very important, an excahnge without trust from investors will soon be abandon and because an exchange without any transactions, then it is a dead exchange, so to avoid a bad repuatation, i believe most exchange with choose to fake volume a little bit to get more attentions from investors, that is something investors must be very careful when using an exchange with high percentage of fake volume.

There are a lot of faking things in the sphere of cryptocurrency, deal with it

Guess not so much as you think

They all promise one thing, u know that right?

that's why research is necessary. if one is going to blindly put their money into exchanges then that is surely called gambling and there is a huge difference between gambling and trading cryptocurrencies. there are very large exchanges which have some lower fakeness you can try those instead of the average one. it all depends on how much or how experienced you are trading.

Ads is a separate theme, of course it’s made for make you be interested in it. But mostly advertising corresponds to quality of product itself

Maybe, but take an example

There are lots of them, examples of bad ads of non-qualitative things I guess you know it, but recently I saw kinda unconventional one:https://www.youtube.com/watch?v=s_3oQNXinko

I always believe in binance and bittrex,
both exchanges have honesty in volume from the beginning of the emergence of the exchange,
and for other exchanges that have fake volumes they will still not have a good impact on their trade,
I'm sure of that.

This is why these 2 exchanges will always be on top of the exchanges, for now, those smaller exchanges should have even learnt that hard work pays more than cheats. A building built on a weak foundation will surely collapse.

Despite the fact that they fake the volumes of their trades, they have still not entered the top list of exchanges or built billion dollars wall around them, they just need to learn to do things in the right way and forget all these magic figures they are adding that will lead them to nowhere, Well, that is for them, my major concern is for the users, they need to just be careful and try to stick with the ones with integrity that cannot be questioned.

I can say Binance is a top exchange because it has a trading volume of over $1 billion dollars, but Bittrex is not attracting volume, they currently have below $100 million daily volume, they need to improve but this exchange has a good reputation, sure they are not faking their volume.

source

https://coinmarketcap.com/exchanges/binance/
https://coinmarketcap.com/exchanges/bittrex/

I don't agree with your opinion. Bittrex was caught for boosting their daily volume with automotive bots. I have no idea about the Binance and their fake volume rumours.

So based on the report, only those small and medium exchanges does not show their real volumes. I don't think this serves as a major problem in the crypto market when the largest and famous exchanges do report their actual and real-time volumes. People just need to use those if they don't want get stressed on this facts.

Whoe knows if the top 10 exchanges are having real volume?remember that CMC used to have a best reputation among them all untill these issues comes out so we really never know the truth behind then
Binance is one of the most competent for now and with high valued reputations ket#hope that this will never change one day as what turns out most of the exchanges now

That is it, so I wonder why we are stressing ourselves in bothering over those smaller exchanges, except they are the real ones and the big ones are just using this news to kill smaller ones and create monopoly. Moreover, I don’t see why people are even coming up with too many exchanges for now; they would have just prepared it against the future instead of tarnishing the name down already.

The big exchanges we have are more than enough to serve the entire market right now and nay new exchange will end up not getting much volume, so they will have to adopt the VOLUME FAKING method to be able to attract users to themselves, and I guess that is why we see those fake volumes.

This is a known issue already, and the majority of them are new exchanges that create fake volume to attract traders. There should a strict regulation that would prevent them from fabricating such volumes. I really don't think this can be resolved anytime soon, but staying away from these kinds of exchanges would be the way to go. Perhaps, stick with Binance, or Coinbase and a few other trusted ones.

even so called big exchangers are having fake volumes. Bitfinex, Kraken. Most of them, are not financial licensed...

I also agree that at the moment no ICOS campaign can successfully mobilize capital. Therefore we must be really alert to avoid falling into the trap of scam projects. I do not invest in ICOS this time. I will wait for a better market to have a reasonable strategy.

It's about incentives, which exchanges do have to manipulate their volumes. However, the more reputable an exchange is, the lower the probability of severe volume manipulation is.

Bitfinex is a scum exchange. I can't find one single reason why people still use it after everything they have gone through. It's like people don't even care anymore, which they eventually will pay the price for.

It is done by a small exchange so that people trust more in their exchanges. Usually traders are reluctant to trade in an exchange if the exchange has a small volume, because the amount of profit and the speed of profits are affected by the volume, it is not a major problem..

They've always gone on about liquidity and the UI. People always think exchanges will fuck everyone but them which is why they continue to use them. BFX has become slowly less dominant, a lot of big moves don't start there any more, and long may it continue.

We do not need regulation, that is what the governments are expecting for us to ask and of course they will be willing to comply but then exchanges will begin to ask even more information from you, what we really need are decentralized exchanges that works like their centralized parts and that have the volume necessary for us to trade without any issues.

Once that happens then we can forget about all of the issues with fake volumes coming from centralized exchanges and more importantly we will eliminate exchanges as one of the most important points of failure in this market.

There are no alternatives to exchanges right now so people have no choice but to take the risk of using an exchange platform for their trading activities. Until a real DEX platform arrives people will stick to this centralized custodial exchange for their money.

Gemini has a banking charter, is run by identifiable people, has a Bitlicence and abides by all known laws.

Bitfinex... does whatever it wants, doesn't tell anyone fuck all and ignores all regulation until it becomes too hot for them.

There are degrees of respectability.

Correct! I don't see any reason for someone to use an unlicesed exchanger unless he is a scammer, fraudster. 

Why would I risk the "money" by using a shady exchanger?

I bet after this article made, there will be a lot of exchanges doing a fake volume with a smoothest way to ensure that people won't be able to find out that they are doing something bad. So, starting from now, we better to avoid those listed exchanges because of this.

You cannot avoid them the only way to unroot them is to ask Coinmarketcap to remove all fake exchange that faking their volume. All their metrics are fake due to wash trading.

Until then we have to endure seeing this inflated volume on CMC.

There are lot of exchanges and altcoins that has a fake volume it says there that many of ico's and their coins list on exchanges with fake volumes.

Most probably, it's hard to trust small exchanges at the current status of the market.
Scams are happening everywhere, hence, being here is very risky for our finances, and we should be smart in dealing with it to avoid loses.

Volume manipulation should be a crime, but until no regulation will implemented in the market, that will remain as a normal thing.
Small exchanges knows they have to compete as majority of the traders are trusting the high volume exchanges and therefore they do a dirty strategy to attract traders.

The difference is you risk your money with bitfinex but could do it anywhere in the world whereas if you want to use Gemini that requires a lot of trouble for people who are not Americans and do not have any american bank accounts. I am not saying its impossible but one is as simple as depositing btc and withdrawing btc whereas the other one requires a ton of paper work to be able to use. Is Gemini safer option? 100% guaranteed the safer option. Will people use it because of that? Not at all.

Gemini will keep being a small time exchange because they tend the needs of a niche amount of the crypto population albeit being the safest option whereas bitfinex even with their shady horrible business work will get much more attention because of the ease of use on their website.

What is killing some exchanges is lack of patient, they rush into releasing their exchange thinking it will be that easy to operate and then they end up not getting volume which forms the base of how people select what exchange to trade on.

I was on a thread this morning where I read 2 comment of users planning to create their own exchange, and I was like, exchange has now become a thing for cat and dogs, even inexperienced secondary school child now wants to create an exchange just to make money from the listen fee, this might be another form of scam and the people they will be scamming more this time are developers that falls victim.

That is just the way it is, having a successful exchange can make you rich very quickly so everyone is looking at the potential profits they can get and they want some of that not realizing that we are saturated with exchanges and that only those at the top get those profits while every other exchange is just surviving, also developing an exchange takes a huge deal of money and it is not something that you can attempt if you barely know how to code because as we know hackers are always looking for an easy victim and those exchanges are perfect for them.

So most likely those users you saw thinking about building their own exchange do not really have an idea of how difficult it is to create their exchange and to get people to use it.

They do really make this thing to be ICO-like where people do see that they can make easy money then they do tend to follow and the entire
market been flooded out by shitty projects which same goes with this exchange thing where it is already saturated and why would really need more?
I would like to say that 4-5 exchangers would really be enough but people do see it as a honeypot where money making is easy and just take a look on
Binance we have seen on how it do start from unknown until becoming on the top.Building and handling an exchange wont be an easy thing
and for these stats/volume manipulation im aint surprised actually.

I dare to assure you that not only digifinex has fake volumes, but also the top 10 best exchanges most likely selected by you, too. These are the features of this sphere. We can’t even check and find out the true numbers. Only exchange owners know the real volume. If you have proofs with digifinex fake volume and bots, then you can write a review about it here https://revain.org/exchanges/digifinex. Or about any other 10 top exchange. It is good to say your assumptions, but it is better to back them up with proofs.

A lot of exchanges are doing fake volumes its been an issue for very long time. They can’t really hide their secrets and traders will raise suspicions due to orders are not acting normally. Some of them are having complicity with newly funded projects to pump the price but investors can’t even deposit or trade their tokens on the particular exchange.

Make profits quickly and sometimes commit fraud against users. I sometimes think that news about exchanges that lose users' funds because they are caused by hackers maybe it's just a lie. that's just my opinion, we all don't know what really happened.

That has been happen to me many times,  the price of coin is different but if they notice the big difference the wallet will go offline and you cant deposit to make arbitrage ending up to hold what you bought true other exchange and hoping the price will be the same which is not always happen.

This is where and why we must be aware of all the Crypto Stats (https://cryptolinks.com/cryptocurrency-statistics), as it’s what helps us understand what’s actual facts and figures, it’s just crazy if anyone follows a written by person figures or something that has no proper standing. I will always prefer to go for neutral sources for all these information, since I am quite aware that this is how you are able to spot the right stuff and exactly spot if something wrong is moving on.

These circumstances do really happen on exchange side where arbitrage opportunities do rarely comes out and when you spot it out then these exchange do really had some shady acts just like that you do mention about locking up their deposit option.

When it comes to fake volumes I'm aint already surprised with these common issues because even top tier exchangers do have issues as well.So get used to it.

I don't trust exchanges anymore except binance in terms of volume, they alwayd shows fake volume, one time I trade in one exchange then I am seeing different orders in the history that are not in the list. I think they doing just to gain investors. I only believes in binance list and nothing else follows.

But they are small exchange, even if they are not faking people will still not be attracted using such exchange.
What people are looking especially if they are trading a major coins is the liquidity, which is the biggest problem of small exchange and with lack of liquidity, it will be easy for the whales to take advantage by manipulating the price, which is not good for small exchanges.

many exchanges use fake volumes to attract investors and traders, I don't know, is actually making fake volumes allowed? because in my opinion this is very detrimental to traders, especially for novice traders who don't know anything yet. but of all exchanges I also agree with you that binance is one of the exchanges that has real volume.

That's why I always prefer binance who don't use the dirty trick of bot trading to show fake volumes like coinbene and I have mentioned this exchange named coinbene numerous times because they use too much of bot trading,  they are responsible for downfall of a well planned project named policy pal as the false volume killed the project.

Fake volume is just a plan of small and medium exchanges, they want to increase their credibility and presence in the crypto market, which allows them to receive more income, with big exchanges like binance, it's really unnecessary because for a very simple thing, they have created a steady demand and attraction, what they need to focus on are strategies and advertising, fake volumes will create bad reputations for them. Users should have an overview of the market exchanges, choose the right destination, know what is real and what is fake

Exchange volume on btc is definitely botty but this doesn't means the same isn't the case in real Market scenarios. I mean that no digital exchanges working on buying matching concept can work without bots. But yes in small exchanges even in the DEX we have a lot of bots doing majority of trading. These bots create buy sell walls by filling the order book but I don't think this is any sign of alarm it's normal and these exchanges are useless for trading.

This is a way for them to attract traders so they want to invest in their exchange or they want to trade on their exchange so that their volume increases. but this method is not appropriate because they manipulate many people and also deceive many people

Thats why considering small or medium exchangers arent really that ideal.Fake volume cant really be only applied with small exchanges and
as said above it can also be seen with big exchangers too. Wash trading or fake volumes are common but only the best ones will remain with the
competition.People arent that blind on whose faking and who do have that organic volume or been mainly supported by the community.

I believe that so when I found two threads that tell us that Vindax and P2Pb2b thay are the number exchange in terms of volume I just knew that these two exchanges are faking their volume, and that article proves us and majority here is right.
These exchanges that faked their volume should not be patronized, these two exchanges have a lot fo bad report in the scam section if they are not honest in their number you won't expect them to be honest with their clients.

Now it is no secret that most of the exchanges do fake volumes using trading bots. And it's not just the small and medium
exchanges who have done this dirty trick, but there are some big exchanges involved too. The volume of this volume is in
great demand because many investors and traders are successfully hooked with it This volume is fake, but not all exchanges
do that. There are several exchanges that use real volume, one of them is binance. Therefore I always use binance to trade.

I think people today can tell which exchanges are good for trading and which are just fake volumes. all of that can indeed be analyzed to be able to prove it from research to which community they believe to be a trusted exchange

Well fake volumes attracts investors to trade in their site which makes a huge red flag to not exchange with site why? Because they can manipulate the price of cryptocurrencies within their site and other problems like withdrawal problems so, if you saw these flags you should avoid those exchanges.

We don't need to experience that, we have to read the reviews of each site and use the site that is trusted in the crypto space especially in this forum.
Most of the positive feedback I heard is on exchanges with good volume such as Binance and Houbi and I believe they are showing a real volume.

Actually, even if we have a lot of trading sites in the space its advisable to focus only few if you are looking for a reputable exchange as like the entire market, majority of the coins are scams and same goes with exchanges where majority are not showing their correct volume.

Binance and Huobi do have a lot of interest from traders, it's natural that the volume is real, but I think like other exchanges, Bittrex, Kucoin, Gate.io, Okex, in my opinion, the actual volume, I think many have positive feedback on the exchange, so there is no volume manipulation for their exchange.

They might not have price manipulation now, but they once also exchange in such activity until they were able to get the real volume and if you trace the history of price manipulation backward, you will see that these top exchange are still the ones that started it first. The only exchange that I think I can trust not to have such activities is still Binance and kucoin because those ones started their hype first and it was their hype that actually gave rise to the volume that they have today.

I would not support fake volume, but some of us actually pushed those small exchanges too to start using fake volume because we always tend to support already big exchanges forgetting that they all started from somewhere too first in which majority of them price manipulation had also.

That's why these fake volume on exchangers are quite known and this happened on the past even big exchangers does but
you can actually differentiate to those known exchangers than to those new or unknown ones.You can spot out if some
exchangers comes to top on volume one day then suddenly drops out its ranks on the next day then that's already a solid example.

I always check CoinGecko, since they released their Normalized Volume on exchanges and trust Score on the trading pairs. normalized volume pushes bad exchanges that fake their volume way down. just check their exchange page https://www.coingecko.com/en/exchanges and you'll see what I mean. unknown crappy exchanges are way below with their crappy reported volumes.

I think Coingecko does a really good job. very good points and I use them pretty often. one thing I think they should look into more is derivatives. derivatives volume are good indicators to how the market is feeling like, and things like bitmex liquidations and volumes are important and shouldn't be ignored.

if the place of exchange gives a fake volume then what about the price and volume rotation of the bitcoin in coinmarketcap until now is it also fake? if false then this could be a public deception and I think the disadvantaged are new traders who think that the volume of cryptocurrency trading is indeed very high but apparently not.

The exchanges that show fake volumes will not necessarily manipulate the price of the coins in the market, these exchanges are faking these volumes to attract new users in the market as more the members in the exchange more the revenue they will be getting when there are more people trading and that is how these exchanges make their profit, if you know that an exchange is faking these volumes it is better to avoid them.

The market was never fair and fake volumes were shown by most of the exchanges to expand the customer base and remain on top as coinmarketcap combines the result of different exchanges and show the combined results on their site.They are just making profits by faking the volume and fooling the people and still these techniques are followed by them even after governmmet intervention.

Have you ever heard the word "In the next week we will to be listed in the top 10 exchanges"? I'm sure you often hear this word from the ICO project. Even though they know that among the top 10 exchanges some of them are fake volumes, but in fact ICO owners never care. For them the most important thing is can get listed in the top 10 exchanges. And in the end many ICO tokens died because of this, very sad!

That's their favorite line but their action is only based on investor's demand, I really like a team that is honest even if they will delay the listing.
At the market state now, listing does not mean success anymore because most of the projects that are listed at the current timing just dump and traded only below their ICO or IEO price.

many developers team said this to attract investors.if they could listing in top 10 exchanges, they will have more benefits.although in fact we see different condition, it just be their promise that we will never see and investors start to leave them.when it happen , slowly they will be die projects.choose projects that focusing in exchanges sometime make us dilema, they forget about product developtment that be main key.

Now everyone is trying to increase their coverage by releasing topics about false volumes. Now CMC, Coingecko, and even Neironix are engaged in it. Which of them to believe is I don't know

Without fake trading volumes, I think trading volumes for the day would be very low on many exchanges. As long as regulators do not touch trading platforms with fake trading volumes, these exchanges will do so because it is an easy way to boost their rating. But this phenomenon has a positive side. Newcomers come to trade on rumors that Bitcoin has colossal daily trading volume. Thus, fake trading volumes carry not only false data, but also advertise cryptocurrencies well.

Some of the exchanges are using fake volume to attract traders to buy an altcoin or bitcoin and using bots to automatically make a position when selling or buying and in that case its a win-win strategy for them.

That's why we don't know if its a legit volume we are trading in a exchange.

It is better to avoid exchanges unless you are a trader. For trading, you can use the top 10 exchanges that are given in the article. Everyone looks at fictitious volumes on exchanges as leprosy, on the one hand it is. Several times I fell into the trap of exchanges with fictitious volumes when I wanted to sell some coins on them, but I did not succeed because trading was conducted between bots. But the problem is that Bitcoin trading volumes are also fictitious to some extent, because the price of Bitcoin is artificially supported. I think one day the regulators will stop this, there are too many manipulations on the market.

It is no longer a public secret that even Coinmarketcap itself in displaying altcoin or bitcoin volumes themselves can also be manipulated. I have read the news. and now don't just look at the Top Coinmarketcap exchange, but do your own research, is it really that trading on the exchange is so big? most are only fake to attract investors so they are interested